MIRA
INFORM REPORT
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Report Date : |
14th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
APEX
LINGERIE LIMITED |
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Registered Office : |
Biman Bhaban(5th Floor), 100,Motijheel Commercial Area, Dhaka-1000, Bangladesh. |
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Country : |
Bangladesh |
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Financials (as on) : |
2004 |
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Date of Incorporation : |
08.07.1998 |
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Com. Reg. No.: |
C-35773 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
The company is engaged in manufacturing and exporting of high quality ladies undergarments for export only. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company name
APEX LINGERIE
LIMITED
Report on :
Apex Lingerie Limited
Address :
Biman Bhaban(5th Floor),
100,Motijheel Commercial Area,
Dhaka-1000,
Bangladesh.
Telephones :
880-9562383,9338867,9338868
Fax :
880-2-9562213,9351286
E-mail :
merchandising@apexfingerie.com
SUMMARY
Established :
1998
Incorporation No. :
C-35773
Incorporation Dated :
8th July,1998
Status :
Satisfactory
Managing Director & CEO :
Mr.Zahur Ahmed
Payment :
Regular
Litigation :
Nil
Capital Invested : Tk.25 million
Sales :
Tk.175 million
Employees :
851
Executives- 5
Junior Executives- 7 Merchandiser- 12
Quality Control- 15
Supervisory Staffs- 20
Support Staffs- 8
General Staffs- 10
Technicians- 10
Workers- 764
BANK
Eastern Bank Ltd
Motijheel Commercial Area,
Dhaka,
FACTORY
Chandora,
Shafipur,
Kaliakoir,
Gazipur,
Tel.06822-51204-6
BRANCH
NIL
OFFICE AREA
1,200 sq.ft.(rented)
FACTORY AREA
29,300 sq.ft
(rented)
WAREHOUSE AREA
3,900 sq.ft.(rented)
DIRECTORS & SHAREHOLDERS
Mr.Zafar Ahmed -Chairman
Mr.Zahur Ahmed --
Managing Director
Mr.Shahriar Ahmed
HISTORY
The company was established in 1998
by Mr.Zahur Ahmed and other directors for producing all kind of Ladies
undergarments for export only.
BUSINESS
The company is engaged in
manufacturing and exporting of high quality ladies undergarments for export only.
RANGE OF PRODUCTS
Modern Brassiere
Basic Bra
Half Bra
Short Bra
Tringle Bra
Stropless Bra
Pushup Bra
Full Bra
Padded Bra
Underwears
PRODUCTION POSITION
Yearly production Capacity :
660,000 Dozens
Last year Production :
660,000 Dozens
MAJOR CLIENTS
Wal-Mart ---USA
K-Mart ----USA
H & M -----Germany
FABRICS & ACCESSORIES FROM
China
Hong Kong
Local Source
Thailand
Malaysia
Pakistan
India
TERM OF PAYMENT
Against L/C,
NAME OF GROUP
Old Group
SISTER CONCERN
Apex Holdings Ltd, Dhaka
Apex Spinning & Knitting Mills, Dhaka
Apex Yarn Dyeing
Ltd,Dhaka
MEMBER
Bangladesh Garments Manufacturer & Exporters
Association, Dhaka.
Dhaka Chamber of Commerce & Industry, Dhaka.
LEGAL FORM
The subject is a private limited
company incorporated with the Registrar of Joint Stock of Companies Dhaka.
FINANCIAL INFORMATION
2004 2003 2002
Capital Invested
Tk.25 million Tk.25 million Tk.24.8 million
Turnover Tk.175 million Tk.174 million Tk.172 million
Liability NIL NIL NIL
Fixed Assets Tk.30 million Tk.30 million Tk.30 million
CAPITAL STRUCTURE
Authorized Capital Tk.60
million
Paid up Capital Tk.100,000.00
Each share value Tk.100.00 each
EXCHANGE RATE
GB Pound 1.00=Tk.118.9771
US Dollar 1.00=Tk. 67.0139
Europe Euro 1.00=Tk. 81.6356
Japanese Yen 1.00=Tk. 0.5858
Australian Dollar 1.00=Tk. 50.6070
COMMENTS
Subject is a private limited
company engaged in manufacturing and exporting of all kind of Ladies
undergarments to overseas countries.
Directors are well acquainted in
their line of trade. They are financially solvent and good at their business
commitments.
The company can be considered normal for business dealings
at usual trade terms and conditions.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |